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At December 31 year-end, Creek Company has an $8,700 note receivable from a customer. Interest of 8% has accrued for 9 months on the note.
At December 31 year-end, Creek Company has an $8,700 note receivable from a customer. Interest of 8% has accrued for 9 months on the note. What will Creek's financial statements report for this situation at December 31? Ba *** A. The balance sheet will report the note receivable of $8,700. OB. Nothing because the business has not received the cash yet. OC. The balance sheet will report the note receivable of $8,700 and interest receivable of $522. OD. The income statement will report a note receivable of $8,700
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